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Reserve Bank says housing crash will not improve affordability.; Luci at it again
Topic Started: 28 Oct 2014, 01:04 PM (6,487 Views)
Veritas
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Quote:
 
If you think you gave Skamy a hiding, then more power to you. Check your iPhone. There's probably an app that will give you a badge for that.


But, naturally, you are not going to say either way. That would contravene Team Bull's code.

Fact checking only goes one direction.
Property acquisition as a topic was almost a national obsession. You couldn't even call it speculation as the buyers all presumed the price of property could only go up. That’s why we use the word obsession. Ordinary people were buying properties for their young children who had not even left school assuming they would not be able to afford property of their own when they left college- Klaus Regling on Ireland. Sound familiar?

The evidence of nearly 40 cycles in house prices for 17 OECD economies since 1970 shows that real house prices typically give up about 70 per cent of their rise in the subsequent fall, and that these falls occur slowly.
Morgan Kelly:On the Likely Extent of Falls in Irish House Prices, 2007
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skamy
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Veritas
30 Oct 2014, 05:52 PM
So I give Skamy another absolute hiding and Team Bull rallies round to comfort their fallen comrade.

Truly, heart-warming stuff guys.
Veritas you miss half the debate, how could you possibly understand Ireland better than me? I am Irish - I have loads of family and friends there and you are some kid in Perth brainwashed by MB and zerohedge who have told you a silly story about how we cannot possibly be different from Ireland.

The truth is that Australia did not have a property price boom and it is a rich country beyond Ireland's wildest dreams. It is nothing like Ireland and you have now been wrong for 7 years as you sat around believing your silly nonsense.

You embarrass yourself on Ireland as you have this fantasy that you are some kind of expert and you sell these over-simplistic lines of shonky lending and silly buyers in order to get your comparison with Australia.

Your throw away comments on the stupidity of the Irish and how they brought this on themselves are offensive, you are quite the closet xenophobe, Veritas.



Ireland was emerging from a long period of dreadful poverty, (I grew up there) and many Irish throughout the world were returning home. This set up the situation and house prices rose and many other aspects of the economy flourished too. Things got out of hand (as they did in Spain and Greece) when too many outsiders were investing in developments that no-one actually intended to live in. This included German Bankers and US bond holders. When the GFC hit, the credit for the developments dried up and firms went bankrupt and people lost their jobs and the economy crashed. It was not Irish people failing to pay loans that caused this crisis that came later with the unemployment etc.


The people could not find jobs and yet again all the young people had to leave Ireland to get work. The whole situation would have been manageable if it were not for the promise too far. The Irish taxpayer was sucked dry for years to pay for the gambling of German banks and the US elite like Bill Gates.



Definition of a doom and gloomer from 1993
The last camp is made up of the doom-and-gloomers. Their slogan is "it's the end of the world as we know it". Right now they are convinced that debt is the evil responsible for all our economic woes and must be eliminated at all cost. Many doom-and-gloomers believe that unprecedented debt levels mean that we are on the precipice of a worse crisis than the Great Depression. The doom-and-gloomers hang on the latest series of negative economic data.
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Veritas
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Quote:
 
Veritas you miss half the debate, how could you possibly understand Ireland better than me? I am Irish - I have loads of family and friends there and you are some kid in Perth brainwashed by MB and zerohedge who have told you a silly story about how we cannot possibly be different from Ireland.


The reason why I know you don't know anything about Ireland is that your posts consistently comfirm that fact.

The rest of your post is puerile nonsense.

Quote:
 
The truth is that Australia did not have a property price boom and it is a rich country beyond Ireland's wildest dreams. It is nothing like Ireland and you have now been wrong for 7 years as you sat around believing your silly nonsense.


Clearly, in an effort to deflect away from the inherent nonsense of your posts on Ireland you want to insist that we are having a conversation about Australia v Ireland. That is not that conversation we are having. And you know that.

And here is Australia's non=property boom :re:

Posted Image

Quote:
 
You embarrass yourself on Ireland as you have this fantasy that you are some kind of expert and you sell these over-simplistic lines of shonky lending and silly buyers in order to get your comparison with Australia.


And yet every factual assertion you have made I have filleted with ease for the total nonsense it is.

I copied a report on the Nyberg report for you. Did you read it? Did it notice how foolish this Finnish Central bankers comments make your deranged protestations look? and how it vindicates my argument? :wak:


skamy
30 Oct 2014, 07:39 PM






Ireland was emerging from a long period of dreadful poverty, (I grew up there) and many Irish throughout the world were returning home. This set up the situation and house prices rose and many other aspects of the economy flourished too. Things got out of hand (as they did in Spain and Greece) when too many outsiders were investing in developments that no-one actually intended to live in. This included German Bankers and US bond holders. When the GFC hit, the credit for the developments dried up and firms went bankrupt and people lost their jobs and the economy crashed. It was not Irish people failing to pay loans that caused this crisis that came later with the unemployment etc.


The people could not find jobs and yet again all the young people had to leave Ireland to get work. The whole situation would have been manageable if it were not for the promise too far. The Irish taxpayer was sucked dry for years to pay for the gambling of German banks and the US elite like Bill Gates.


Quote:
 
Ireland was emerging from a long period of dreadful poverty, (I grew up there) and many Irish throughout the world were returning home. This set up the situation and house prices rose and many other aspects of the economy flourished too. Things got out of hand (as they did in Spain and Greece) when too many outsiders were investing in developments that no-one actually intended to live in. This included German Bankers and US bond holders. When the GFC hit, the credit for the developments dried up and firms went bankrupt and people lost their jobs and the economy crashed. It was not Irish people failing to pay loans that caused this crisis that came later with the unemployment etc.


Laughable Rubbish.

Irish banks made the loans.

Irish builders built the houses.

Irish people bought the houses

Irish people became property investors.

Irish Governments sanctioned the entire racket

Irish people voted for these Governments

Irish regulators failed to reign in the banks.

And you are blaming it on foreigners? :re:

Quote:
 
The people could not find jobs and yet again all the young people had to leave Ireland to get work. The whole situation would have been manageable if it were not for the promise too far. The Irish taxpayer was sucked dry for years to pay for the gambling of German banks and the US elite like Bill Gates.


The reason they had to go is that the economy was collapsed by a property bubble that you think should be reinflated.

Bill Gates? What the fuck has he got to do with anything you clown? :lol

Edited by Veritas, 30 Oct 2014, 11:23 PM.
Property acquisition as a topic was almost a national obsession. You couldn't even call it speculation as the buyers all presumed the price of property could only go up. That’s why we use the word obsession. Ordinary people were buying properties for their young children who had not even left school assuming they would not be able to afford property of their own when they left college- Klaus Regling on Ireland. Sound familiar?

The evidence of nearly 40 cycles in house prices for 17 OECD economies since 1970 shows that real house prices typically give up about 70 per cent of their rise in the subsequent fall, and that these falls occur slowly.
Morgan Kelly:On the Likely Extent of Falls in Irish House Prices, 2007
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skamy
Member Avatar


Veritas
30 Oct 2014, 11:17 PM
Yada yada Macrobusiness said this that and the other
You simply cannot understand Ireland and you will be shocked what will happen as people get confident to spend again. You were wrong wrong wrong on all your calls about Ireland and about Australia.

Yet you doggedly cling to the crash cult indoctrination.
Definition of a doom and gloomer from 1993
The last camp is made up of the doom-and-gloomers. Their slogan is "it's the end of the world as we know it". Right now they are convinced that debt is the evil responsible for all our economic woes and must be eliminated at all cost. Many doom-and-gloomers believe that unprecedented debt levels mean that we are on the precipice of a worse crisis than the Great Depression. The doom-and-gloomers hang on the latest series of negative economic data.
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Veritas
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skamy
30 Oct 2014, 11:37 PM
You simply cannot understand Ireland and you will be shocked what will happen as people get confident to spend again. You were wrong wrong wrong on all your calls about Ireland and about Australia.

Yet you doggedly cling to the crash cult indoctrination.
Posted Image
Property acquisition as a topic was almost a national obsession. You couldn't even call it speculation as the buyers all presumed the price of property could only go up. That’s why we use the word obsession. Ordinary people were buying properties for their young children who had not even left school assuming they would not be able to afford property of their own when they left college- Klaus Regling on Ireland. Sound familiar?

The evidence of nearly 40 cycles in house prices for 17 OECD economies since 1970 shows that real house prices typically give up about 70 per cent of their rise in the subsequent fall, and that these falls occur slowly.
Morgan Kelly:On the Likely Extent of Falls in Irish House Prices, 2007
Profile "REPLY WITH QUOTE" Go to top
 
skamy
Member Avatar


Accepted- Peace be upon you
Definition of a doom and gloomer from 1993
The last camp is made up of the doom-and-gloomers. Their slogan is "it's the end of the world as we know it". Right now they are convinced that debt is the evil responsible for all our economic woes and must be eliminated at all cost. Many doom-and-gloomers believe that unprecedented debt levels mean that we are on the precipice of a worse crisis than the Great Depression. The doom-and-gloomers hang on the latest series of negative economic data.
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